Report: BTC.com purchased for $1.1 million

If you needed proof that bitcoin-related domain names are quickly becoming a hot commodity, look no further than today’s news that cryptocurrency mining hardware retailer GAW Miners has purchased BTC.com for an eye-popping $1.1 million. According to a report on Cryptocoins News, the domain has been available for at least a few weeks, with several major bitcoin companies vyying for the rights to the highly desirable seven-character address. GAWMiners’ Josh Garza announced his triumph to the website via email shortly after the sale was confirmed early this morning.

Last month, the sale of another extremely desirable domain, Bitcoins.com, was halted by the U.S. District Court of Seattle. That domain is owned by Tibanne K.K., the parent company of defunct Tokyo bitcoin exchange Mt.Gox, prompting the court to issue a restraining order on all of Tibanne’s assets until a long-standing case with Seattle’s CoinLab is settled. Tibanne had expected the domain to sell for around $1 million, and had promised that at least half of the proceeds would be used to provide compensation to Mt.Gox creditors.

With BTC.com selling for such a healthy price, the eventual selling price for Bitcoins.com now becomes a much more interesting question. The U.S. District Court restraining order blocking the auction is set to expire next week, although it could be extended should CoinLab’s case prove persuasive.